Quantbot Technologies LP Takes Position in New Pacific Metals Corp. $NEWP

Quantbot Technologies LP purchased a new stake in shares of New Pacific Metals Corp. (NYSEAMERICAN:NEWP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 81,863 shares of the scientific and technical instruments company’s stock, valued at approximately $329,000.

A number of other hedge funds also recently added to or reduced their stakes in NEWP. Equinox Partners Investment Management LLC boosted its stake in New Pacific Metals by 100.1% during the 4th quarter. Equinox Partners Investment Management LLC now owns 5,656,045 shares of the scientific and technical instruments company’s stock valued at $19,781,000 after purchasing an additional 2,829,376 shares during the last quarter. Helikon Investments Ltd bought a new stake in shares of New Pacific Metals in the 4th quarter worth $8,050,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of New Pacific Metals by 42.0% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,992,253 shares of the scientific and technical instruments company’s stock worth $10,788,000 after purchasing an additional 1,180,666 shares during the last quarter. Alps Advisors Inc. lifted its holdings in shares of New Pacific Metals by 42.1% during the fourth quarter. Alps Advisors Inc. now owns 2,878,543 shares of the scientific and technical instruments company’s stock valued at $10,104,000 after purchasing an additional 852,375 shares in the last quarter. Finally, Jupiter Asset Management Ltd. boosted its position in shares of New Pacific Metals by 5.8% during the fourth quarter. Jupiter Asset Management Ltd. now owns 13,176,710 shares of the scientific and technical instruments company’s stock valued at $46,141,000 after buying an additional 722,700 shares during the last quarter. 22.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Roth Capital reissued a “buy” rating and issued a $7.25 target price on shares of New Pacific Metals in a research report on Monday, May 18th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $7.25.

New Pacific Metals Trading Down 4.9%

Shares of NYSEAMERICAN NEWP opened at $7.05 on Friday. New Pacific Metals Corp. has a 12-month low of $1.66 and a 12-month high of $7.55. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -352.50 and a beta of 0.95. The firm has a 50 day moving average of $5.11 and a 200 day moving average of $4.83.

About New Pacific Metals

New Pacific Metals Corp., together with its subsidiaries, engages in the exploration and development of mineral properties in Bolivia and Canada. The company explores for silver, gold, lead, and zinc deposits. Its flagship property is the Silver Sand property covering an area of 5.42 square kilometers located in the Potosí Department, Bolivia. The company was formerly known as New Pacific Holdings Corp. and changed its name to New Pacific Metals Corp. in July 2017. New Pacific Metals Corp. is headquartered in Vancouver, Canada.